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1841 $2 1/2 PR50 NGC. JD-1, High R.6....
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Sold on Jul 14, 2022 for:
$228,000.00
Bid Source: HA.com/Live bidder
Description
1841 Quarter Eagle, PR50
'The Little Princess'
Ex: Richmond Collection
1841 $2 1/2 PR50 NGC. JD-1, High R.6. Ex: Richmond
Collection. It took about 100 years for the 1841 quarter eagle to
be widely recognized as one of the most intriguing and enigmatic of
all U.S. gold coins. Mint records show no 1841 P-mint quarter
eagles were produced in any format (proof or circulation strikes).
Yet, "The Little Princess" does indeed exist, and this issue ranks
among the rarest of all U.S. coins.The traditional explanation why no official mintage is reported is that all 1841 quarter eagles are proofs. Early proofs were not reported by the Mint. The fact that all 1841 quarter eagles are struck from proof-only dies supports this theory. All quarter eagles from 1840 to 1848 feature a common proof reverse die, with the final vertical shield line extending upward through all the horizontal lines to the shield border.
PCGS announced in March 2012 that it would certify both proofs and circulation strikes, based on the "most likely scenario" that a small number of circulation strikes and an even smaller number of proofs were struck from the same proof dies. The announcement explained:
"This is a monumental decision on our part, and we have taken two years to reach the decision. The really interesting thing about the whole process is that this is not a unanimous point of view in the numismatic community. There are world class U.S. coin experts on both sides of this issue. Some of the smartest numismatic minds of all-time feel very strongly that circulation strike 1841 Philadelphia Mint Quarter Eagles were indeed minted. But there are also some of the best coin minds of all-time who believe only proofs were struck."
While PCGS recognizes both proof and circulation strikes, NGC certifies all 1841 quarter eagles as proofs. "The Little Princess" remains definitively rare in any format. We have confirmed just 16 examples, including one coin that was reported stolen many years ago and has not been seen since. Three others reside in institutional collections, unavailable for public or private sale.
Famously, Louis E. Eliasberg, Sr. needed an 1841 quarter eagle as the final issue to complete his set. Despite owning the unique 1870-S three dollar gold piece and one of two known 1822 half eagles -- plus innumerable gold coins of great rarity -- a suitable 1841 $2.50 gold piece eluded him until March 1948 and served as a fitting capstone to the collection. There can be no greater testament to the issue's rarity and demand.
The present Richmond Collection coin remains in its previous-generation PR50 NGC holder. It displays light circulation wear, with considerable mirroring readily seen among the devices, glittering brightly when the coin is viewed at an angle. Although there are light field abrasions and a few scattered, minute marks, the surfaces radiate pleasing orange-gold color with pale-olive accents. 1841 quarter eagles emerge only when well-heeled collections come to auction. We expect high-spirited competition when "The Little Princess" takes center stage.
Roster of 1841 Quarter Eagles
1. PR65 Deep Cameo. Mint Collection; National Numismatic Cabinet; Smithsonian Institution.
2. PR65 Ultra Cameo NGC. Adolphe Menjou Collection (Numismatic Gallery, 6/1950), lot 1189; R.F. Schermerhorn Collection; Robert Friedberg; H.P. Graves Collection; Stack's (5/1954), lot 691; Grant Pierce; Stack's (8/1976), lot 2787; Superior (2/1991), lot 2664; Heritage (6/2004), lot 6204; Heritage (7/2005), lot 10321.
3. PR64 Cameo PCGS. CAC. A.H. Baldwin & Sons of London to Burdette G. Johnson as part of a complete 1841 proof set; Wayte Raymond; Waldo C. Newcomer; Col. E.H.R. Green from B. Max Mehl; F.C.C. Boyd; World's Greatest Collection (Numismatic Gallery, 1/1946), lot 108; J.F. Bell (Jake Shapiro); Memorable Collection (Numismatic Gallery, 3/1948), lot 101; Louis E. Eliasberg, Sr. Collection; Louis E. Eliasberg estate and Louis E. Eliasberg Jr.; United States Gold Coin Collection (Bowers and Ruddy, 10/1982), lot 117; Harry W. Bass, Jr. (Bowers and Merena, 5/2000), lot 105; The D. Brent Pogue Collection Part VII (Stack's Bowers, 3/2020), lot 7324.
4. MS61 PCGS. Norweb Family Collection (Bowers and Merena, 3/1988), lot 1970; Auction '89 (Superior, 7/1989), lot 844.
5. PR60 PCGS. Samuel Wolfson (Stack's, 10/1962), lot 114; Alex Shuford (A. Kosoff, 5/1968), lot 1731; ANA Sale (Jess Peters, 8/1973), lot 821; Bowers and Ruddy (2/1974), lot 739; Worldwide Coins (2/1974); Harry W. Bass, Jr. (Bowers and Merena, 10/1999), lot 335; Doug Winter; private collection.
6. AU58 PCGS. Mid-American (5/1985), lot 1223; Heifetz Collection (Superior, 10/1989), lot 3995 as XF45 NGC, Auction '90 (David Akers, 8/1990), lot 1841 as XF45 NGC; R.M. Limited Partnership (Heritage, 7/2009), lot 1230 as PR58 NGC. Now in an AU58 PCGS holder.
7. PR55 NGC. " ... discovered in a safety deposit box, has remained unknown for many years and is now being offered at auction for the first time" (per Christie's description); Christie's (4/1985), lot 937; Auction '86 (Superior, 7/1986), lot 1345; Heritage (4/2012), lot 5220; The Poulos Family Collection / ANA Signature (Heritage, 8/2019), lot 5220.
8. PR55. Anderson Dupont Collection (en bloc via Stack's); Josiah K. Lilly Collection; Smithsonian Institution.
9. PR53 PCGS. Arthur Lamborn; Bowers and Ruddy (12/1977), lot 6406; Heritage (2/2007), lot 4375; Heritage (3/2014), lot 30299 (relisted as AU53 PCGS).
10. PR50 NGC. James A. Stack Collection (Stack's, 10/1994), lot 865; Richmond Collection (David Lawrence, 7/2004), lot 1097; Superior (1/2005), lot 970; Heritage (5/2005), lot 8505. The present coin.
11. XF45 PCGS. The first 1841 quarter eagle certified as a circulation strike by PCGS. "Held in a family collection for many years, we were unable to trace it to a prior auction appearance and it may have been privately traded up until this offering" per the Stack's Bowers catalog; Rarities Night Auction (Stack's Bowers, 3/2012), lot 4266.
12. PR40 PCGS. New York Resident; Empire Coins; Empire Review #14; Arthur Lamborn; Auction '85 (Paramount, 7/1985), lot 1419; Superior (9/1999), lot 1862; American Numismatic Rarities (9/2005), lot 1074.
13. VF35. Lester Merkin (2/1972), lot 368A; Bowers and Ruddy (5/1973), lot 1009; Robison Collection (Stack's, 2/1979), lot 115.
14. Proof. J.C. Mitchelson Collection; Connecticut State Library. Impaired per John Dannreuther.
15. PR04 PCGS. CAC. Edwin Hydeman Collection (Abe Kosoff, 3/1961), lot 548; RARCOA (1/1969), lot 399. Likely earlier from the March 1940 B. Max Mehl sale, lot 1324, and probably reappearing in Abner Kreisberg (6/1970), lot 1497; U.S. Coins Signature (Heritage, 8/2020), lot 3967.
Additional Appearances (likely some duplication within the roster)
A. XF or finer. Dunham Collection (B. Max Mehl, 6/1941), lot 1932; J.F. Bell (RARCOA, 4/1963), lot 108. Mehl was known for using "stock" photos, not necessarily an image of the coin being sold. John Dannreuther recorded the pedigree from Dunham to the 1963 Bell sale. This coin was stolen in December, 1964 at the GENA convention in New York.
B. VG. Seavey Collection (Strobridge, 1873), lot 612; Parmelee Collection (New York Coin, 6/1890), lot 1122. C. W. Elliot Woodward (10/1884), lot 1958.
D. There is a listing for an 1841 quarter eagle in the Col. Mendes Cohen Collection auction catalog (Edward Cogan, 10/1875), lot 209, but that is a Dahlonega coin (not mentioned in the catalog).
From The Allan H. Goldman Collection. (Registry values: P10)
Coin Index Numbers: (NGC ID# 25LZ, PCGS# 7867, Greysheet# 8411)
Metal: 90% Gold, 10% Copper
Weight: 4.18 grams
AGW: 0.13oz
Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.
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Auction Info
2022 July 14 - 17 Long Beach Expo/Summer FUN US Coins Signature® Auction #1347 (go to Auction Home page)
Auction Dates
July, 2022
14th-17th
Thursday-Sunday
Bids + Registered Phone Bidders: 32
Lot Tracking Activity: N/A
Page Views: 2,802
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20% of the successful bid per lot.
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